Solidus Investment Company, a venture capital firm founded by healthcare provider CHA Medical Center Group, today returned for a $30m series B round in South Korea-based antibody developer Orum Therapeutics.
IMM Investment, Smilegate Investment, KTB Network, Stassets Investment and InterVest also joined the round.
Orum Therapeutics has built a cell-specific, cell-penetrating antibody technology platform, Oromab, that makes it possible to target proteins previously deemed undruggable.
The company is focusing on cancer and rare diseases, developing both in-house assets and treatments in partnership with partners.
Orum will put the cash towards boosting the capabilities of Oromab and expanding its research and development facilities in South Korea and Boston in the US, where the company was recently accepted into an unnamed biotech incubator.
Solidus previously backed an $8m series A round in 2017 that also featured InterVest, KB Investment and LB Investment. The company had earlier closed a seed round of undisclosed size in 2016 from Kite Entrepreneurship Foundation.
